Massenberg
JF-Expert Member
- Jun 4, 2011
- 1,173
- 1,370
LONDON - The Libyan government reclaimed possession from Saadi Gaddafi of a London mansion worth 10 million pounds ($16 million) after a British court ruled on Friday it had been bought using stolen Libyan state funds.
Anti-corruption activists said it was the first successful asset recovery case brought to court by a country swept up in the "Arab Spring" uprisings that began more than a year ago.
The eight-bedroom house in the upmarket area of Hampstead Garden Suburb has a swimming pool, jacuzzi, suede-lined home cinema and flat-screen televisions in every room, in keeping with Saadi's well-publicized taste for luxury.
The claim was brought on behalf of the new government of Libya, the National Transitional Council that came to power following the overthrow and murder of Saadi's father Muammar Gaddafi last year.
The house was bought in May 2009 by a shell company based in the British Virgin Islands called Capitana Seas Limited. The owner of the company was Saadi Gaddafi, according to evidence presented to the court and accepted by the judge.
No one representing Capitana or Saadi was present in court to contest Libya's claim to the house.
The judge said the defendant, Capitana, had 14 days to hand over the house to Libyan representatives and should pay 120,000 pounds ($188,300) to cover their legal costs, although the dormant company appears unlikely to produce the cash.
Anti-corruption activists said it was the first successful asset recovery case brought to court by a country swept up in the "Arab Spring" uprisings that began more than a year ago.
The eight-bedroom house in the upmarket area of Hampstead Garden Suburb has a swimming pool, jacuzzi, suede-lined home cinema and flat-screen televisions in every room, in keeping with Saadi's well-publicized taste for luxury.
The claim was brought on behalf of the new government of Libya, the National Transitional Council that came to power following the overthrow and murder of Saadi's father Muammar Gaddafi last year.
The house was bought in May 2009 by a shell company based in the British Virgin Islands called Capitana Seas Limited. The owner of the company was Saadi Gaddafi, according to evidence presented to the court and accepted by the judge.
No one representing Capitana or Saadi was present in court to contest Libya's claim to the house.
The judge said the defendant, Capitana, had 14 days to hand over the house to Libyan representatives and should pay 120,000 pounds ($188,300) to cover their legal costs, although the dormant company appears unlikely to produce the cash.
